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Macerich names former PayPal exec to board

Regional mall real estate investment trust Macerich Co. said Peggy Alford has joined its board as an independent director.

Alford fills a vacancy left by Fred Hubbell, who resigned to focus on his campaign for governor in Iowa. Hubbell had been a member of Macerich's board since 1994.

Alford currently serves as CFO of philanthropic organization Chan Zuckerberg Initiative, founded by Facebook Inc. Chairman and CEO Mark Zuckerberg and his wife Priscilla Chan in 2015. Prior to that, she worked at PayPal Inc. as CFO of Americas, global credit and global products.

Alford will be nominated to stand for election to the board at the 2018 annual meeting of stockholders.